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Senate dumps FIRS on Tax Credit controversy

Senator Sani Musa noted that a fresh implementation of the policy outside the N2.7 trillion should be halted for now. The Senate through its committee on Finance, dumped the stay-of-action position proposed to it by the Federal Inland Revenue Service (FIRS) on the N2.7 trillion Tax Credit Fund required for specific road construction by the Federal Ministry of Works.  In an interaction with the Committee the previous week, Zacch Adedeji, the Chairman of FIRS, blasted...

Senate kicks against N17 trillion loss on tax waivers 

The Chairman of the FIRS, Zacch Adedeji insisted on the stoppage of N2.7 trillion fresh tax credit assuring that he will cut the number of taxes from 62 to 8. The Senate has expressed disapproval over the 17 trillion loss incurred on tax waivers within the last five years.  As a result, it recommended that the Federal Inland Revenue Service (FIRS) suspend the heavily exploited tax waiver programme and replace it with a rebating system....

FIRS boss condemns Tax Credit policy on Road Construction 

The Nigerian National Petroleum Company Limited (NNPCL) cleared the air on a $3.3billion loan secured for CBN The Chairman of the Federal Inland Revenue Service (FIRS), Zacheus Adedeji has condemned a three-year-old N2.59 trillion Tax Credit Scheme, which was implemented for nationwide road construction by the administration of former President Muhammadu Buhari.  This is in response to the Nigerian National Petroleum Company Limited (NNPCL), one of the key Tax Credit Scheme executors, clearing the air...

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